Johnson Outdoors receives New York grant for flood damage
By IBI Magazine
Johnson Outdoors, which manufactures marine electronics and boats, announced that it had received a US$500,000 grant to help pay for the damage its Binghamton, New York, facility sustained last year after it was flooded. On June 29, 2006 the company's manufacturing and administrative facilities in Binghamton were shut down due to flooding caused by heavy rains in the Northeastern US. Production resumed at the facility in August. The state flood grant programme's funds were set aside for costs associated with the clean-up, repair, mitigation or replacement of property, equipment and inventory lost or damaged due to the June floods. Johnson Outdoors estimated eligible grant expenditures in Binghamton of US$7.6 million related to the flood, of which all but US$1.2 million was covered by the company's insurance. "On behalf of everyone at Johnson Outdoors, I want to thank the state of New York for taking prompt action to help spur the economic recovery of a region devastated by last year's flooding," said Helen Johnson-Leipold, Chairman and Chief Executive Officer, in a statement.
(29 March 2007)
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